Floater projects recovery to be weaker this year

FPS orders have risen on the back of higher oil prices.

Whilst the average floating productions system (FPS) fell further, orders are on the right track to recovery, UOB Kay Hian said.

Citing the latest Energy Maritime Associates (EMA) report, the brokerage firm said the average FPS order since 2008 fell further from 1.5 units to 1.4 units per month. The recent stability in oil prices saw five new orders placed - one FPSO and four FSRUs - as compared to none placed in the same period last year.

Meanwhile, as of April 2017 there were 229 projects in the appraisal, planning or bidding/final design stages. These represented a 5% YoY decline (2Q16: 240) but a 1% QoQ improvement (1Q17: 226). Projects in the bidding/final design stage as a proportion of total projects currently stand at 24%, having bottomed out at 21% in 3Q16. The improvement, however, is due to low base effect. Projects as a total number of floater projects continue in a downward trend.

Here's more from UOB KayHian:

Project awards over 2017-19 remain robust, but deferrals are rising. The continued stability of oil prices continues to see awards for projects in the bidding/final design stage remaining relatively unchanged at 54 units (4Q16: 57). The project pipeline for 2017-19 remains robust, with only three orders in this stage falling back into the planning stage. That said, project award deferrals rose from 13 (21%) in 4Q16 to 16 (28%) in 2Q17.

Estimated US$43.4b of capex to be spent over 2017-19. Despite five contract awards in 1Q17, capex for award in 2017-19 is expected to be higher at US$43.4b, vs prior projection of US$37.5b in 4Q16. Capex spend has also been brought forward, with current projections showing a highest= capex spend for 2017 as compared to two quarters ago.

You're the reader we write for. You're also the person our partners want to reach.

If that sentence describes you — a founder, a C-suite, someone whose attention companies pay good money for — then you already understand why SBR works. We've spent twenty years earning the trust of readers exactly like you. Which is exactly what makes this an interesting place for your company to show up, too.

The ways it can show up are broader than most people assume — thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. The right fit depends on what you're trying to do, which is why we'd rather start with a conversation than send a rate card.

If your company has something this audience should know about, we'd like to hear what you're working on.

No rate cards until we understand the brief. It's a better use of everyone's time.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia

Top News

30 One-Sentence Stories From People Who Have Built Better Habits

None of these stories are mine. They were sent to me by readers of Atomic Habits. My hope is that these examples will illustrate how real people are putting the book into practice. They will show you what people are actually doing to build good habits and break bad ones. And hopefully, they will spark some ideas for how you can do the same.

news conversion

SBR 5 Lorem Ipsum News 2 [8 May]

Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged. It was popularised in the 1960s with the release of Letraset sheets containing Lorem Ipsum passages, and more recently with desktop publishing software like Aldus PageMaker including versions of Lorem Ipsum.

SBR 4 Lorem Ipsum [8 May Top Stories]